AppForge sells assets; firm owes $1.8 million
Atlanta Business Chronicle - April 13, 2007
by Justin Rubner
Details have emerged about the fate of software-maker AppForge Inc.
The company, which unexpectedly shut its doors in mid-March, has sold its assets to Atlanta-based Hays Financial Consulting LLC, a firm that manages distressed, insolvent and bankrupt companies. AppForge, which developed software for PDAs and other mobile devices, filed an "assignment for the benefit of creditors," a quasi-bankruptcy that assigns all assets to the management company with the intent of paying off creditors as quickly as possible so shareholders can get something as well.